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[8OR9]

if you have any illusions of "making a living" betting on sports, then I suggest you listen to the comments of this CEO in this video...and this situation is probably true of all sports books everywhere.


https://www.youtube.com/watch?v=exiv47A_k04&t=50s&ab_channel=CaanBerryProTrader


This video is also very informative
.
https://www.youtube.com/watch?v=2NSnFL8TbIU&t=15s&ab_channel=Unabated

[KungFuBac]

Good links 8OR9

I think there are some opportunities with arbitrage betting. However, one would need to lay the groundwork first (set up multiple accounts with several books). Maybe have several friends set up some accounts too.

My state of residence doesn't allow sports betting so haven't considered it seriously. I was recently in Colorado and was contemplating how one could take advantage of "new customer" bonus offer I had received. MGM and caesars offered me a single $1000 bet (Loss rebate) since I had never opened an online account with them. Of course my first thought was to hedge each side. So I perused the fine print and that was one of the main rules(no arbitrage or hedging). So that nixed my gameplan.

If one wants to risk alot(with 0% probability to lose) then arbitrage offers a better opportunity IMO. Obviously a big grind but if one can find an arbitrage situation everyday then compounding is your best friend.

Example:

Plan A)
Lets say I can find small hedges about every day. One book maybe -105 opposite side +110 another book. That's 1.2% ROI.

At a 1.2% daily ROI and a beginning bankroll of $5,000 after a year bankroll would be over $320,000. And no risk.

Plan (B)

I've done well in the past with NFL futures (One must bet the futures immediately after they come out). Then place bets throughout the upcoming months as the futures change(or wager other sides if your team makes playoffs and that first wager now has more value). The only problem is ones money can be tied up for months for maybe a 6-10% ROI. I usually only wagered 7 futures bets(At same wager amount)  and hoped one hit.

*Addendum thought: If one can pick bets at EV+ then why dilute return with arb or hedge.

I would prefer plan (A) above.


Just quicknrandom thoughts as Im certainly not a veteran sports bettor.


Continued Success,

[8OR9]

If you think that sports betting web sites are rotten, then just do a google search on the  4 or 5 most popular stock trading web sites with the word "complaints" after the name of the stock trading company......... such as, do a google search like this:

Company ABC Complaints


If you are thinking about day trading or overnight trading stocks, you better read these complaints.....enough to make you sick.